FBI warning : New malware targeting bank accounts

FBI warns vs new malware targeting bank accounts

The US Federal Bureau of Investigation (FBI) has warned the public against a new malware targeting bank accounts via faux emails from the National Automated Clearing House Association (NACHA), the Federal Reserve Bank, or the Federal Deposit Insurance Corporation (FDIC).

In a news release, the FBI said the malware, a new variant of the Zeus malware dubbed "Gameover," can allow access to recipients' bank accounts.

"(O)nce it’s on your computer, it can steal usernames and passwords and defeat common methods of user authentication employed by financial institutions. And once the crooks get into your bank account, it’s definitely 'game over,'" it said.

It noted the Zeus malware had been created several years ago and specifically targeted banking information.

The FBI said computer users must make sure their computers' anti-virus software is up to date.

"Don’t click on e-mail attachments from unsolicited senders. NACHA, FDIC, and the Federal Reserve all say they don’t send out unsolicited e-mails to bank account holders. If you want to confirm there’s a problem with your account or one of your recent transactions, contact your financial institution directly," it advised.

Also, it advised users not to accept unsolicited jobs online that require them to receive funds from numerous bank accounts and then wire the money to overseas accounts.

"You could get caught up in a criminal investigation," it said.

How the scheme works

A recipient may get a supposed unsolicited e-mail from NACHA, the Federal Reserve, or the FDIC telling him or her that there is a problem with his or her bank account or a recent ACH (Automated Clearing House) transaction.

The message includes a link in the e-mail that will supposedly help resolve whatever the issue is.

"Unfortunately, the link goes to a phony website, and once you’re there, you inadvertently download the Gameover malware, which promptly infects your computer and steals your banking information," the FBI said.

Once the perpetrators access a victim's account, they conduct a distributed denial of service, or DDoS, attack using a botnet.

A botnet involves multiple computers flooding the financial institution’s server with traffic in an effort to deny legitimate users access to the site, "probably in an attempt to deflect attention from what the bad guys are doing."

Recent investigation

Recent investigations showed some of the funds stolen from bank accounts go towards the purchase of precious stones and expensive watches from high-end jewelry stores.

The criminals contact these jewelry stores, tell them what they’d like to buy, and promise they will wire the money the next day.

So the next day, a person involved in the money laundering aspect of the crime, a “money mule,” comes into the store to pick up the merchandise.

After verifying that the money is in the store’s account, the jewelry is turned over to the mule, who then gives the items to the organizers of the scheme or converts them for cash and uses money transfer services to launder the funds.

'Work at home'

"In many cases, these money mules are willing participants in the criminal scheme. But increasingly, as part of this scheme, we see an increasing number of unsuspecting mules hired via 'work at home' advertisements who end up laundering some of the funds stolen from bank accounts," the FBI said.

It said the criminals e-mail prospective candidates claiming to have seen their resumes on job websites and offer them a job.

The hired employees are provided long and seemingly legitimate work contracts and actual websites to log into.

"They’re instructed to either open a bank account or use their own bank account in order to receive funds via wire and ACH transactions from numerous banks…and then use money remitting services to send the money overseas," the FBI said.

It urged those who think they had been victimized by this type of scheme to contact their financial institution to report it, and file a complaint with the FBI’s Internet Crime Complaint Center. — TJD, GMA News

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